SoFi has expanded SoFiUSD, the first stablecoin issued by a U.S. national bank, to Polygon’s Open Money Stack, adding the payments network to the Ethereum and Solana blockchains where the token was already available.

Polygon Labs said SoFiUSD is live on the stack, which combines fiat on- and off-ramps, embedded wallets and cross-chain settlement through a single integration. SoFi’s more than 17 million members can buy, sell, hold and convert the stablecoin on Polygon through the SoFi app without setting up a separate crypto wallet or manually transferring assets between networks.

The expansion places SoFiUSD alongside USDC, USDT and PayPal’s PYUSD on Polygon’s payments infrastructure. Businesses using the stack can connect stablecoins to wallets, banking rails and local currencies for payouts, settlement and cross-border transfers, extending their potential use beyond cryptocurrency trading.

“SoFi is well positioned to bring stablecoins into mainstream finance because it combines the regulatory foundation of a national bank with the reach of a major consumer and enterprise technology platform,” said Marc Boiron, chief executive of Polygon Labs.

Issued by SoFi Bank, which is regulated by the Office of the Comptroller of the Currency, SoFiUSD is redeemable one-to-one for U.S. dollars. SoFi launched the token on Ethereum and Solana and says it is used to settle its entire card program over Mastercard’s network. The company has also expanded its digital-money offerings with SoFi Earn, a tokenized deposit that pays a 4.40% yield and converts one-to-one into SoFiUSD.

The move reflects a broader push by financial firms to use stablecoins for payments, business settlements and international transfers. Polygon says its network has processed more than $3 trillion in lifetime stablecoin transfer volume. Visa and Mastercard support stablecoin settlement on Polygon, while Stripe uses the network to route USDC payments for merchants in more than 150 countries. Polygon has also extended Open Money Stack to Solana.

SoFiUSD is a payment stablecoin, not a bank deposit. It is not insured by the FDIC or SIPC, guaranteed by a bank or legal tender.